Southfield, Michigan, April 11, 2013 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation( NASDAQ: CACC) (referred to as the"Company", "Credit Acceptance", "we", "our", or "us") announcedtoday the pricing of the previously announced underwritten publicoffering by certain trusts affiliated with the founder and Chairmanof the Company Donald A. Foss and Karol A. Foss and certainindividuals and entities associated with Prescott General PartnersLLC of 1,500,000 shares of the Company's common stock at a price tothe public of $105.00 per share. The Company will not sellany shares in the offering and will not receive any proceeds fromthe offering. The underwriters will have a 30-day option topurchase up to an additional 225,000 shares of the Company's commonstock from the selling shareholders. Subject to customary conditions, the offering isexpected to close on April 17, 2013. BofA Merrill Lynch and Credit Suisse Securities(USA) LLC are acting as joint book-running managers for theoffering, with BMO Capital Markets acting as a co-manager. The offering is being made pursuant to aneffective shelf registration statement (including a prospectus)filed with the Securities and Exchange Commission (the "SEC") onApril 8, 2013. A preliminary prospectus supplement relatingto the offering has been filed with the SEC. Copies of thepreliminary prospectus supplement, the accompanying prospectus and,when available, the final prospectus supplement can be obtainedfrom BofA Merrill Lynch, 222 Broadway, New York, NY 10038,Attention: Prospectus Department or email@example.com and Credit Suisse Securities (USA)LLC, Attention: Prospectus Department, One Madison Avenue, NewYork, NY 10010, via telephone: +1 (800) 221-1037, or by e-mail:firstname.lastname@example.org. This press release does not constitute an offerto sell or a solicitation of an offer to buy the securitiesdescribed herein, nor shall there be any sale of these securitiesin any state or other jurisdiction in which such an offer,solicitation or sale would be unlawful prior to registration orqualification under the securities laws of any such state or otherjurisdiction. The offering is being made only by means of aprospectus supplement and accompanying prospectus.
About Credit AcceptanceCorporationSince 1972, Credit Acceptance has offeredautomobile dealers financing programs that enable them to sellvehicles to consumers, regardless of their credit history. Credit Acceptance is publicly traded on the NASDAQ under the symbolCACC.
CONTACT: Investor Relations: Douglas W. Busk Senior Vice President and Treasurer (248) 353-2700 Ext. 4432 IR@creditacceptance.com